Sydney’s Hollywood Hotel Could fetch up to $10 million

Sydney’s iconic Hollywood Hotel is on the market for the first time in 42 years, with hopes it could fetch up to $10 million.

The hotel located in Surry Hills was once owned by actress and cabaret singer Doris Goddard, who purchased the property in 1977 for $175,000.

Goddard died at the age of 89 in 2019.

Mark Symons, current manager of the hotel is involved in the sale process

Mr Symons remembered Ms Goddard as a “great raconteur” who was also “the ultimate actress”.

The sale process is being handled by HTL Property’s Andrew Jolliffe, Sam Handy and Blake Edwards.

The major selling points include: business and mixed-use development upside opportunities.

According to Mr Jolliffe the business has so much to offer as it comes with a 3am liquor licence and 10 gaming machines. The first floor has a manager’s residence, which has also previously doubled as a bar and kitchen. The second floor has nine accommodation rooms.

“The Hotel Hollywood is a very rare city fringe hotel exhibiting all the key fundamentals astute purchasers are seeking: late-trading approvals and compelling upside levers within a dynamic precinct,” HTL Property’s NSW director Sam Handy said.

“Underscored by strong history and the inherently iconic nature of this property, we consequently expect intense interest from a number of competing buyer profiles, including hoteliers, restaurateurs, investors and developers alike.”

Irit Jackson - 20th April 2021